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Paxos’ USDG Stablecoin Achieves $21.8 Billion Trading Volume on Uniswap in September
Paxos’ USDG stablecoin, also known as Global Dollar, recorded an impressive trading volume of $21.8 billion on Uniswap during September 2026. This figure represents 98% of USDG's total decentralized exchange activity, highlighting the stablecoin's rapid growth since its launch less than a year ago. USDG's circulating supply is approximately $3.2 billion, indicating that it turned over nearly seven times its entire supply on the platform within a single month.
The surge in trading volume is attributed to Uniswap's introduction of the StablePair Hook on September 10, a feature that allows for dynamic fee structures for stablecoin trading pairs. USDG currently holds over $600 million in total value locked across decentralized exchange pools, which has enabled it to handle significant trading activity while maintaining its dollar peg.
Launched in November 2024 by Paxos Digital Singapore and regulated by the Monetary Authority of Singapore, USDG is backed 1:1 by liquid US dollar assets. The Global Dollar Network, which supports USDG, has expanded to over 150 partners, including notable firms like Robinhood and Kraken. USDG is now operational across multiple networks, including Ethereum and Solana, and has recently introduced native issuance on Mantle to enhance its presence in decentralized finance (DeFi).
In the broader context, USDG pairs accounted for approximately 31% of Uniswap's total monthly decentralized exchange activity, which surpassed $70 billion in September. The successful integration of USDG with Uniswap's advanced DeFi infrastructure underscores the importance of technological innovation in driving stablecoin adoption and trading volume.
Source: KLEA News